- Kraken Pro lists DOGE/GBP and DOGE/AUD to boost global trading.
- Increased whale activity in DOGE, with over 150 transactions exceeding $1 million.
A new trading pair, DOGE/GBP, has been listed on the sophisticated cryptocurrency trading platform Kraken Pro. Days after the exchange unveiled the DOGE/AUD pair, indicating its dedication to broadening its product line for Dogecoin traders worldwide, comes this addition.
Trade Dogecoin directly against the British Pound with the launch of the DOGE/GBP trading pair. With more ways for consumers to interact with the well-liked cryptocurrency, this action is predicted to improve DOGE’s liquidity and accessibility in the cryptocurrency market.
📣 New trading pair available for spot
✔️ DOGE/GBP
Start trading now: https://t.co/W0n7h066tr
*Geographic restrictions apply pic.twitter.com/zRQAK4iCjZ
— Kraken Pro (@krakenpro) June 7, 2024
Enhanced Liquidity and Accessibility for Dogecoin
The U.S.-based Kraken cryptocurrency exchange’s subsidiary earlier this week listed the DOGE/AUD pair, enabling trading of Dogecoin against the Australian Dollar (AUD).
Offering direct trading pairs with fiat currencies like the Australian Dollar and British Pound, Kraken Pro seeks to meet the expanding demand for Dogecoin trading across borders. These upgrades show how the exchange plans to serve a wide range of international users.
The choice by Kraken Pro to offer these pairs may also be a reaction to the increasing demand for Dogecoin, which has had a comeback in popularity due to its active community and expanding applications.
On the other hand, well-known cryptocurrency analyst Jason Marks has said that the DOGE pattern points to a possible rise to new highs, maybe above $10, in the near future.
$DOGE (Dogecoin) –
The trend says a more than 4X to New All Time Highs and perhaps much, much greater!
According to this breakout trend, a >$10 DOGE may be on the way… https://t.co/eVpDwynejx pic.twitter.com/dChytYPZo3
— JAVON⚡️MARKS (@JavonTM1) June 5, 2024
Market Downturn and Price Analysis
Meanwhile, Dogecoin (DOGE) saw a steep 10% decline in value during the major downturn in the cryptocurrency market. This fall is a component of a wider market downturn that has affected significant cryptocurrencies like Ethereum and Bitcoin and resulted in liquidations exceeding $410 million.
DOGE was trading at about $0.1457 at the time of writing, having fallen 1.60% in the previous 24 hours and showing a negative trend with an 8.91% drop over the previous 7 days, according to CoinMarketCap.
Also, with more than 150 transactions surpassing $1 million, ETHNews has reported on rising whale activity in DOGE.